MVB Bank has selected Kobalt Labs to automate how it oversees its FinTech partners, with the technology set to support due diligence, continuous monitoring and marketing compliance reviews.

The West Virginia-based bank expects the AI-driven platform to reduce manual work across its partner lifecycle while creating a more consistent approach to risk oversight. It also expects the technology to streamline the onboarding and review experience for its FinTech partners.

Kobalt’s platform is designed to automate third-party risk management (TPRM) and compliance processes by extracting evidence, identifying control weaknesses and generating risk analyses. It can also benchmark policies and procedures against changing regulatory expectations and support reviews of security and marketing materials.

The company positions its platform as an AI-native approach to third-party risk and compliance, helping financial institutions assess vendors and FinTech partners without relying on manual document reviews. Kobalt said the technology can help institutions conduct faster and more consistent assessments while maintaining an audit trail for regulatory reviews.

Kobalt counts Chime, Upstart, Zions Bancorporation, Emprise Bank, Core Bank and Meriwest Credit Union among its clients.

MVB supports FinTech companies across areas including payments, card issuance and online gaming, alongside traditional retail and commercial banking. Its offering also includes money movement and embedded finance capabilities.

The partnership comes as banks face increasing demands around how they oversee third-party relationships, particularly as financial institutions expand their partnerships with FinTech companies.

Kobalt Labs CEO and co-founder Kalyani Ramadurgam said, “If you want to show your regulators you’re doing it right, you have to add consistency and scale with technology.

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